Kidney Dialysis Equipment Market to be Surpass US$ 24.5 Billion by 2024, On the Back of Increasing Prevalence of Chronic Kidney Diseases
According to the report “Global Kidney Dialysis Equipment Market, By Equipment (Hemodialysis, Peritoneal dialysis, Continuous renal replacement therapy (CRRT)), End User (Home Care Settings, In-Clinics/Dialysis Centers), and Geography – Insights, Opportunity Analysis, and Industry Forecast till 2024, the market was valued at US$ 13,930.3 million in 2015 and is projected to expand at a CAGR of 6.6% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights.
The Global Kidney Dialysis Equipment Market was valued at US$ 13,930.3 million in 2015 and is projected to expand at a CAGR of 6.6% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Increasing number of End Stage Renal Disease (ESRD) patients, growing prevalence of diabetes & hypertension (major causes of kidney failure), rapid growth in the aging population are expected to be major factors driving growth of the global Kidney Dialysis Equipment Market over the foreseeable future.
Chronic kidney disease (CKD) is a serious medical condition, wherein either one or both kidneys are damaged, causing improper blood filtration, irregular blood pressure, electrolyte imbalance, and lower red blood cell production in the body. As a result, waste produced in the body by filtration process remains in the body and may further lead to other health problems such as gall stones, abdominal pain, and painful maturation. The incidence of chronic kidney disease increases with age and is mainly prevalent in the age group of 65 years and above. Diabetes and high blood pressure are among the most common causes of CKD. According to America Kidney Fund, diabetes cases accounts for 44% of all kidney failures or improper functioning of kidney. In 2012, there were around 239,837 kidney failure patients out of an estimated 29.1 million diabetics. It is observed that around 40% people having diabetes will be affected by chronic kidney disease. High blood pressure (HBP) leads to 28.4% of kidney failure cases. Other risk factors for chronic kidney disease include cardiovascular disease, obesity, high cholesterol, and lupus.
According to the University of California, incidence of end-stage renal disease (ESRD) in the U.S. is 5% annually, while only 20% of kidney donors are available every year. The need for kidney donors in the U.S. is increasing by 8% annually. Globally, Taiwan, U.S., Japan, Mexico, and Belgium are the countries with highest prevalence of ESRD. Kidney disease is the 9th leading cause of death in the U.S. According to American Kidney Fund, in 2015, around 31 million people in the U.S., i.e. 10% of the adult population suffered from chronic kidney disease (CKD). Chronic kidney disease is one of the most common among women than men, however, 50% of men when compared to women with chronic kidney disease have chances of turning chronic kidney disease kidney failure, also known as end-stage renal disease (ESRD). Kidney failure risk is higher in some racial and ethnic groups. According to Kidney National Foundation, when compared to whites, African Americans are at 4 times higher risk, Native Americans at 1.5 times higher, Asians at 1.4 times higher risk of contracting the disease. Non-Hispanics are 1.5 times higher risk to be diagnosed with kidney failure as compared to Hispanics.
To know the latest trends and insights prevalent in the Kidney Dialysis Equipment Market, click the link below:
Key takeaways of the Kidney Dialysis Equipment Market:
- The global Kidney Dialysis Equipment Market is expected to expand at a CAGR of 6% during the forecast period (2016–2024) as there exists a huge unrealized market especially in Asia Pacific, Latin America, Middle East and Africa
- Hemodialysis will dominate the market throughout the forecast period, accounting for 83.7% market share in 2016 and expected to remain dominant with 80.3% in 2024 owing to easy affordability and low price.
- In Clinical/ Dialysis Centers will dominate the market throughout the forecast period accounting 93.8% market share in 2016 and is expected to dominate with 92.7% in 2024.
- Some of the major players involved in global Kidney Dialysis Equipment Market are Baxter International, Inc., Fresenius Medical Care AG & Co., Nipro Corporation, B. Braun Melsungen, Nikkiso Co, Ltd., Asahi Kasei Corporation and NxStage Medical, Inc.
- -Global Kidney Dialysis Equipment Market, By Equipment:
- —Concentrates and dialysis solutions
- —Others (Water treatment systems, accessories)
- –Peritoneal dialysis
- —Transfer sets
- –Continuous renal replacement therapy (CRRT)
- -Global Kidney Dialysis Equipment Market, By End User:
- –Home Care Settings
- –In-Clinics/Dialysis Centers
- -Global Kidney Dialysis Equipment Market, By Geography:
- –North America
- —-U.S. Kidney Dialysis Equipment Market, By Equipment:
- ——Concentrates and dialysis solutions
- ——Others (Water treatment systems, accessories)
- —–Peritoneal dialysis
- ——Transfer sets
- —–Continuous renal replacement therapy (CRRT)
- —-U.S. Kidney Dialysis Equipment Market, By End User:
- —–Home Care Settings
- —–In-Clinics/Dialysis Centers
*Similar cross sectional analysis is provided for Other Countries covered as a part of this report
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Our global team of over 100 research analysts and dedicated consultants provide market intelligence from the very molecular country level and also provide a global perspective of the market.
We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to startups looking to establish a foothold in the market. Our close interactions with our clients offer our insights about their unique requirements that enable us to provide them with highly specify and deeply customized solutions catered for their business needs.
To know more details on the other latest market studies, please visit:
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154,
Email: [email protected]
Company Name: Coherent Market Insights
Contact Person: Mr. Shah
Email: Send Email
Address:1001 4th Ave, #3200
Country: United States